Mises Wire

Venezuela's New Cryptocurrency Is not Really "Backed by Oil"

Global Economy


If a currency can't be converted on demand into the underlying commodity, it's not "backed" by that commodity. 

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Venezuela Needs Monetary Freedom, and Soon

Money and BanksMoney and Banking

Venezuela is facing a crisis of immense proportions. A crucial first step in lessening the disaster is giving citizens choices in the money they use.

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Venezuela's Default Disaster

Global EconomyMoney and BanksMoney and Banking

In the end, the socialist promise of free money is very expensive for all. Let’s learn the lesson.

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Venezuela on the Brink


Jeff Deist and guests Luis Cirocco and Rafael Acevedo discuss how quickly Venezuela is unraveling.

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Violence: How It's Different From Market Exchange

War and Foreign PolicyInterventionismPolitical Theory

Not all human action is truly voluntary in the marketplace. Violence can be used to distort and force a wide variety of relationship among human beings.

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Venezuela: Forty Years of Economic Decline

Corporate WelfareThe Police State

By the 1970s, the Venezuelan economy was in deep trouble. The half-hearted reforms that followed, paved the way for the rise of Hugo Chávez.

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Venezuela Before Chavez: A Prelude to Socialist Failure

Global EconomyPrivate Property

The roots of Venezuela's failed regime can be found even before Hugo Chávez took office.

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Venezuela’s March Toward Default

Global EconomyPolitical Theory


With gold reserves shrinking, and a collapsing currency, it is only a matter of time until Venezuela defaults on its foreign debt

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Venezuela's Bizarre System of Exchange Rates

Global EconomyMoney and BanksMoney and Banking

01/07/2016Mises Wire
Many people know that the Venezuelan economy is subject to byzantine price controls and other regulations. But on top of it all is a highly complex, bureaucratic, and damaging system of government-controlled monetary exchange rates.

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Vote with Your Feet: Free States Are Happier and Richer

Taxes and SpendingU.S. EconomyPolitical Theory

09/17/2015Mises Wire
When we adjust for the cost of living, we find that more economically free states in the US are richer, happier, and endure less poverty than the high-tax highly regulated states. Consequently, many people continue to move from less-free states to more-free states.

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